Contract Management

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  • 1.  One time use vendors

    This message was posted by a user wishing to remain anonymous
    Posted 01-31-2023 12:56 PM
    This message was posted by a user wishing to remain anonymous

    Can anyone advise on how the track one time use vendors? We want to monitor them differently than we monitor our ongoing contracts any advice would be greatly appreciated.


  • 2.  RE: One time use vendors

    Posted 01-31-2023 01:23 PM
    We use Oracle Fusion (Oracle Procurement Cloud) and it has functionality to identify one-time suppliers. It has an identifying check box and we have also made one of our Supplier Types = "One Time Payment". We exclude these vendors from our vendor management program and processes (we also exclude a few other Supplier Types).
    Thank you,
    Christi
    Christi Osburn
    Vendor Management Program Manager



    Original Message


  • 3.  RE: One time use vendors

    Posted 01-31-2023 05:41 PM
    Hi Christi,

    Can you tell us the Supplier Types you exclude from your VM Program? I'm still trying to figure that all out.

    Thanks so much!

    Cheryl
    Original Message


  • 4.  RE: One time use vendors

    Posted 01-31-2023 05:47 PM
    They are not necessarily vendors but they are third parties.  Like utilities,  charitable contributions, rent payments, payment to cities, payments for legal or recruiting services, one time or small spend facilities, one-time statements of work without master agreements.
    Original Message


  • 5.  RE: One time use vendors

    Posted 01-31-2023 05:52 PM
    We do keep our leases for our branches in our VM system, but not to monitor payments. Just to monitor termination or renewal dates, notification windows and to have a central location for the agreements. 

    Thanks

    Cheryl
    Original Message


  • 6.  RE: One time use vendors

    Posted 02-01-2023 07:55 AM
    Yes, Marty is correct. 

    Here are the supplier types we exclude, but many are third-parties not necessarily vendors:
    Government Entity
    Utilities

    Corporate Giving (we do collect HQ location and diversity classification)
    Industry Group 
    Scholarships
    Political & Industry Donations
    Board of Directors
    Employee

    Special Events
    Insurance Carrier
    One-Time Payment

    For more clarity, we include:
    Goods
    Services
    Insurance Operations (these are vendors we pay from our Insurance Processing System that we chose versus the policyholder/claimant if there is a claim.

    NOTE - I work for a Property & Casualty Insurance company.

    Hope this helps,
    Christi 
    Christi Osburn
    Vendor Management Program Manager
    PEMCO Mutual Insurance Company 



    Original Message


  • 7.  RE: One time use vendors

    Posted 02-01-2023 06:32 PM
    We created a generic 'One Time Event' vendor in Venminder and then each one time event is added as a new product with an expiration date equal to the date of the event.  We have also called out a special section in our procedures on how they are handled differently, including the necessary due diligence.

    ------------------------------
    Tracy J. Wilson
    ------------------------------

    Original Message


  • 8.  RE: One time use vendors

    Posted 02-01-2023 06:45 PM
    Hello. Would you be able to share your procedures? Thank you.

    ------------------------------
    Lynn Francisco
    SVP & CIO
    Mission National Bank
    ------------------------------

    Original Message


  • 9.  RE: One time use vendors

    Posted 02-13-2023 12:56 PM

    3.1.10 One Time Events - Conference and Event Planning

     

    Often forgotten about, conferences and event planning also involve vendors/suppliers and contracts.  While the sharing of personally identifiable information is highly unlikely and no cyber-security needs to be evaluated, there are risks that need to be considered.  An initial risk assessment does not need to be completed; however, the risks specific to the engagement need to be reviewed.  These risks could include whether alcohol is being served, provisions if the event needs to be rescheduled or cancelled, and any special requirements of the venue or the speaker.

     

    These do not need to be reviewed by Enterprise Architecture and Information Security UNLESS data will be shared with the vendor; in such cases, Info Sec needs to be consulted.

     

    All contracts should be provided to Enterprise Services prior to execution for review.  The same criteria for Legal review applies.

     

    If the vendor/supplier is not a well-known entity, i.e. Marriott, Hyatt, Top Golf, etc., request a completed W-9 and have the TIN verified through Compliance.

     

    A Contract Approval form should be completed and the contract needs to be signed by an officer.

     

     

    Tracy

     

    Tracy J. Wilson, PMP, FLMI, PCS

    Enterprise Services Manager

    Enterprise Services

    Modern Woodmen of America

     

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    Original Message